They must find it difficult, those who have taken authority as the truth, rather than truth as the authority.

Friday, May 21, 2010

Economic Apocalypse Has Begun

Steve CurtinThe Blood of Patriots and Tyrants

Even among those who could be bothered to pay attention, there had to be some among them who just could not or would not believe the warnings of the prophets of doom. You are brought up in America, where prosperity and growth is perpetual, where you may get the occasional mild and brief recession, but total economic collapse is just not something that happens here. Other countries, sure. Not us.

I know, speaking from my own experience, that very few people I've warned about the coming economic collapse took me seriously, if for no other reason than they didn't judge me a credible judge of our economic health and future. No, I have never chaired the (Keynesian) Economics Department at Princeton, like our boy Ben Shalom Bernanke. But then again, Bernanke knows 99% of the crap he learned and taught at Princeton is worthless in terms of real economics. The fake economics he and his globalist cabal employ is solely a means to empower the already powerful, and enrich the already rich, under a cloak of economic "science". But I digress.

The more time passes on, the more the global economy in general and, for the purposes of most of the people reading this, the American economy in particular, collapses further into the abyss, the more difficult it will be to ignore the warnings of people like me, or, if you will, people like Ron Paul, Peter Schiff, and Dylan Raddigan, et al. Despite what you're being told, the economy is not recovering. Statist shills like to talk about new home constructions on the rise, but defaults are still snowballing. Notice the headline of this link: mortgage delinquencies a drag on economic recovery. It's a recovery, you see, no matter how bad things continue to get. Jobless claims rose unexpectedly by the largest amount in three months; all bad economic news is unexpected, because this is a recovery, see, and any and all bad news happens in spite of it, and should not be expected, even though they continue. All you have to do is wish the depression...err, recession...no wait...just be happy, damnit. Everything is ok.

We own everyone of consequence in the media. -- Former CIA director William Casey

It should be common knowledge, but isn't, that the establishment media is controlled by the banksters, who, with their printing press monopoly on money creation and value, have essentially bought every global institution of significance - media, military, education, politics. So when the media talks about a recovery, it should be a foregone conclusion that they are lying. There is a recovery, and every bad omen and event that contradicts this occurs in spite of the recovery, and is in no way evidence of a deteriorating economy. This is the official narrative, the conventional wisdom as defined by those who would define what reality is, but we all know better. Or we're slowly learning better.

We were told that, despite the recovery, jobs were still a problem, although everytime these problematic numbers are released, it's unexpected.. Understanding the complex models used to determine unemployment is an exercise in futility. Jobs are lost and unemployment goes down. Jobs are gained and unemployment goes up. But what is most important to know is that all economic numbers provided by the government are a sham. Real unemployment, going by the standards used in the Great Depression, is 20-plus percent. And when they mention a rise in GDP which is used as justification for declaring the "recession" (prior to the Great Depression there was no such thing as a "recession"...they were all depressions) over they neglect to tell you that upwards of 50% of GDP is government spending. That's hardly a proper standard for determining economic growth, since the government can only redistribute wealth; it cannot create anything. Except poverty and misery. But I digress again.

The economic hardship beginning to grip much of Europe is a harbinger of things to come for us, for the same factors that are bringing countries like Greece and Spain and the Euro down afflict the United States. Greece's debt load is roughly a paltry half a trillion dollars. Folks, their entire debt is one quarter our yearly budget deficit. By the government's numbers, our debt is racing upwards of $14T. But if future expenditures and obligations are taken into account, the debt is at least $78T, exceeding the entire world's GDP. Speaking of fake government statistics, I'm not exactly sure how this figures into our actual debt load, but the TARP bailout wasn't really $700B, it was $27T - with a T, for TRILLION - and counting.

But what's really frightening about the situation is, the debt isn't the only thing ailing us - not even close. Remember the housing crash that brought us all to our knees two years ago, a crash that people like Peter Schiff warned us about and were laughed at for in 2006-07? Well irrespective of the fact that the housing market is still crashing, another real estate crash is still imminent: commercial real estate. This crash will make the previous one look like a peaceful stroll through a quiet park by comparison.

And, even if our debt load were not impossible to ever pay back, promising future suffering to come, how could we pull ourselves out of the hole we're in, just in terms of jobs and production and stabilization of the markets? Isn't this America? Doesn't this happen to us, simply by default, because we're, you know, Americans? During the Great Depression, we were an industrial society on a gold standard, with a high savings rate. We actually produced wealth, rather than simply consuming. At the height of the boom 72% of our GDP was consumption. And we're not doing a whole hell of a lot of that either (thank god). How do you generate the wealth necessary to create jobs and new business when all you do is spend spend spend, consume consume consume? Where does the money come from? The capital?

There is none. Any prosperity we've had in the last 30 years was based on debt. Borrowing. And as the bills come in, and fewer countries are willing to allow us to borrow more money to pay back our debt and consume more, we're soon going to realize that we were never really prosperous in the first place. It was all an illusion. Fake.

I am certain someone more educated in economics than I could paint an even bleaker picture than I do. Because there is more still that shows us to be a rotting corpse of an empire. And then of course there is the issue of whether or not all of this was even an accident, or part of a globalist conspiracy to destroy the global economy as justification for eradicating national sovereignty and implementing a global government with a one world currency. That will have to be another discussion for another time. In terms of what really matters for us, it is only truly relevant to know that we are going down, and there's nothing we can do to stop it; to reverse it. The old class divisions - rich, middle class, poor; political differences - left, right, moderate, republican, democrat, libertarian; educational differences - high school diploma, GED, college graduate, PhD, MD, etc; all of these mean nothing. There are now only two groups of Americans: those who prepared, and will survive, and those who did not prepare, and will suffer.

I wish I could tell you how long you still have before the bottom drops out, and you no longer have any time to prepare. Prices on consumer goods are already spiraling out of control. Time is short. Turn off your television, and get ready.

1 comment:

You are correct - the bottom will fall out much like groceries in a soggy paper bag. (you don't know when but you know it's gonna happen) 10 years ago my old boss and I would discuss this very topic and wonder - when? I enjoyed you closing statement of the global government with a one world currency. Obama, if nothing else has shown that this world is ready for a one world government.